City of Huntsville Earns Aaa Credit Rating for 8th Straight Year
May 19, 2016
The City of Huntsville received good news this week from Moody’s Investors Service. The Wall Street credit rating agency awarded Huntsville Aaa status for the eighth straight year.
The triple-A rating is the highest a city can achieve, and is awarded to a minority of government entities in the nation. Less than six percent municipal and county governments across America receive the top ranking.
“This rating is the result of the hard work and strong fiscal management of this administration,” said Mayor Tommy Battle. “Citizens can feel confident we are spending their tax dollars wisely, keeping our debt in check, and focusing on projects that matter most to our community.” Moody’s cited Huntsville’s strong regional tax base and position as a major economic engine for northern Alabama, which is reinforced by the large governmental presence of Redstone Arsenal and NASA’s Marshall Space Flight Center. The rating also takes in to consideration the city’s stable financial position with satisfactory reserve levels, as well as its above average wealth levels and below-average unemployment.